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Forex bureau ordered to refund $160,000 to customer
Parties exchanging money. Unregulated foreign capital has led to an increase in government borrowing. Courtesy photo
Court has ordered the defunct Lanex Forex Bureau Limited to pay $160,000 to its former client, Damas Mulagwe as a refund of what was taken as deposit contrary to the regulations governing financial institutions.
Court of Appeal judges Cheborion Barishaki, Stephen Musota and Christopher Madrama unanimously dismissed with costs, the appeal in which Lanex Forex Bureau Limited had sought to overtur
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